Lake, MI 48632 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Lake, MI—48632

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$168,000

2.9% YoY Growth

Household Income

$51,700

45.0% YoY Growth

Days on Market

116

3.0% Shorter YoY

Home Price Forecast

N/A

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

Home Price Trends — Lake, MI

Lake, MI lacks sufficient home price data for analysis.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$168,000	2.9%
Single Family	$169,000	5.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

Rental Trends — Lake, MI

Lake, MI lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	N/A	N/A
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

24.5%

2 Bedrooms

25.2%

3 Bedrooms

35.7%

4 Bedrooms

1.4%

5+ Bedrooms

13.3%

Property Listings — Lake, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Lake, MI is 91. This is a increase of 3.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$180,000	2.0%
Listing Count	28	-1.0%
Listings as % of Homes	0.6%	-1.0%
Days on Market	116	-3.0%

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Demographics — Lake, MI

As of the latest ACS Survey released in 2023, Lake, MI has a population of 5,000, which has decreased by -4.8% over the past 5 years. Lake, MI is a moderately popular place for families, as children make up 19.1% of the population. The area has a poorly educated workforce, with 14.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	5,000	-4.8%
% Under 18	19.1%	3.8%
% Seniors	23.6%	-8.5%
% WFH	5.5%	34.1%
% w/ College Degree	14.3%	60.7%

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As of the latest ACS Survey released in 2023, Lake, MI is a predominantly white area, with 91.1% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Lake, MI is hispanic, making up 3.6% of the population. Foreign-born residents account for 2.5% of the population in Lake, MI, and this percentage has increased by 177.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	91.1%	-1.3%
% Black	0.0%	-100.0%
% Hispanic	3.6%	38.5%
% Asian	0.9%	800.0%
% Foreign Born	2.5%	177.8%

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Mortgage and Risk — Lake, MI

According to HUD data as of 2023, there were 108 mortgage originations in Lake, MI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Lake, MI. Investor activity is low, as 2.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	108
% Conventional Loans	80.0%
% Government Loans	20.0%
% Investor Loans	2.0%
% Second Loans	33.0%
% Cash Out Refinance	15.0%

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Rentals and Section 8 — Lake, MI

Lake, MI lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	N/A
Total Units Section 8	N/A
% Rentals under Section 8	N/A
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$740
2 Bedroom	N/A	N/A	$930
3 Bedroom	N/A	N/A	$1,170
4 Bedroom	N/A	N/A	$1,500

Lake, MI—48632

Key Metrics at a Glance

Home Price Trends — Lake, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lake, MI

% of Rental Stock

Property Listings — Lake, MI

Demographics — Lake, MI

Race and Ethnicity

Mortgage and Risk — Lake, MI

Mortgages

Rentals and Section 8 — Lake, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Lake, MI

Home Price to Income Ratio

Lake, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Sears, MI

Farwell, MI

Barryton, MI

Weidman, MI

Evart, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3
Median Home Price	$168,000
Median Household Income	$51,700

Lake, MI—48632

Key Metrics at a Glance

Home Price Trends — Lake, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lake, MI

% of Rental Stock

Property Listings — Lake, MI

Demographics — Lake, MI

Race and Ethnicity

Mortgage and Risk — Lake, MI

Mortgages

Rentals and Section 8 — Lake, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Lake, MI

Home Price to Income Ratio

Lake, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Sears, MI

Farwell, MI

Barryton, MI

Weidman, MI

Evart, MI

Frequently Asked Questions

What is the average home price in Lake, MI 48632?

How have home prices in Lake, MI 48632 changed over the past year?

What is the home price projection for Lake, MI 48632?

What are the demographics of Lake, MI 48632?

How long does it take homes to sell in Lake, MI 48632?

What is the average rent price in Lake, MI 48632?